After the baby boom: population trends and the labor force of the future

Tim Schiller examines how the U.S. and the Third District labor force will change as the baby boomers start to retire in large numbers and women’s participation in the workforce levels off. These and other demographic shifts will affect the supply and demand for workers among different industries and occupations, potentially leading to shortages of workers in areas projected to grow, such as education and health care. Nationally, the average age of the work force will increase, its growth will slow, and its composition will be more diverse, and these factors will likely have a particular impact in Pennsylvania, New Jersey, and Delaware. But the good news is that the Third District, already a center of education and health care, may attract more workers than currently anticipated.